Petrobras Has 15 Assets in Downstream with Ongoing Sales, Including Refineries and Distributors in Brazil and Abroad
Last Thursday (21), Petrobras announced that it will initiate the non-binding phase of the sale of Colombia Combustibles in Colombia. The company operates in the distribution and marketing of gasoline, diesel, and lubricants, with 124 service stations and 7 storage units. The teaser for the asset was published in March.
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Abroad, Petrobras is attempting to sell Compañia Mega and Petrobras Uruguay Distribuición S.A. (PUDSA). The former, located in Argentina, focuses on the processing of natural gas and the fractionation of liquid fuel derivatives. In August 2019, Mega entered the binding phase. Petrobras Uruguay is involved in the distribution market of fuels and lubricants and entered the binding phase in February of this year.
In the last 5 years, the assets sold by Petrobras in the downstream sector were:
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Farmer drills well in Ceará in search of water, accidentally finds crude oil and sees million-dollar discovery hindered by a rule that completely changes the future of the site.
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Family finds oil on a 49-hectare site in Ceará, but exploration has no timeline or guarantee of happening
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When drilling an artesian well, a farmer wanted water but found oil: ANP confirms that the dark liquid found by a farmer on a site in Ceará is crude oil.
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Nansei Sekiyu Refinery in Japan;
Petrobras Paraguay Operaciones y Logística SRL in Paraguay;
Petrobras Paraguay Gas SRL in Paraguay;
Pasadena Refinery in the USA;
In the same period, Petrobras achieved the highest figure obtained from a divestment in the sector, US$ 9.6 billion, with the initial public offering of BR Distribuidora.
In 2020, the company moved forward with the divestment of other assets:
In February, the teaser regarding the sale of 100% of its stake in the Nitrogen Fertilizers Unit III in Mato Grosso do Sul was released;
In March, the binding phase began for the sale of its 10% stake in Transportadora Associada de Gás S.A. (TAG);
Also in March, Petrobras announced the beginning of the non-binding phase for the sale of its remaining stakes in Gaspetro and Nova Transportadora do Sudeste S.A. (NTS);
The state-owned company postponed the deadline for submitting binding proposals regarding the Abreu e Lima (RNEST) refinery in Pernambuco; Landulpho Alves (RLAM) in Bahia; Presidente Getúlio Vargas (Repar) in Paraná; Alberto Pasqualini (Refap) in Rio Grande do Sul; and Gabriel Passos (Regap) in Minas Gerais.
In the non-binding phase are the Isaac Sabbá (Reman) refinery in Amazonas, Lubricants and Oil Derivatives from the Northeast (Lubnor) in Ceará, and the Shale Processing Unit (Six) in Paraná.

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